Week 4- problem sets
MUST HAVE LISTED BOOK
Edmonds, T. P., Edmonds, C., McNair,F. M., & Olds, P. R. Fundamental Financial Accounting Concepts (9th edition). New York, NY: Mcgraw Hill Higher Education.
ISBN: 9781259296802
Part 1
- You own Widgets ‘R Us and are preparing your year-end financial statements: What inventory accounting method do you use and why (FIFO, LIFO, or Weighted-Average)? What are its advantages and disadvantages?
- You own Widgets ‘R Us and are preparing your year-end financial statements: What activities should you perform to correctly account for your inventory at year-end?
- You own Widgets ‘R Us and are preparing your year-end financial statements: Why is it important to track inventory? What does this information tell you about your business?
Part 2
- Exercise 5-1A
- Exercise 5-2A
- Exercise 5-3A
- Exercise 5-4A
- Exercise 5-5A
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- Discussion
- Select two subjects from the following list of topics and write a 1,050-word analysis: Active monetary and fiscal policy Increased government spending to fight recessions Reducing federal government's discretionary powers Zero-inflation target Balanced go